BSL achieves robust Q4 and FY23 results, demonstrating strong performances
During the year, the company was able to mitigate the impact of increased cotton prices and ocean freights, thereby improving our bottom line.
BSL has published its audited financial results for the Q4 & FY23 ended 31st March 2023. The total revenue of the company stood at Rs 471.7 crore, up by 8.2 per cent on a Y-o-Y basis. The EBITDA stood at Rs 53.4 crore, up by 33.8 per cent on a Y-o-Y basis.
Commenting on the results, Nivedan Churiwal, Managing Director of BSL said, “In FY23, we faced significant challenges such as historically high input costs and a slowdown in key global markets. However, we are pleased to announce that our businesses demonstrated improved performance, resulting in an 8.2 per cent YoY revenue growth with EBITDA amounting to Rs 53 crore and an EBITDA Margin of 9.2 per cent, representing a 34 per cent increase on a Y-o-Y basis. Additionally, our PAT stands at Rs 17 crore with a PAT Margin of 2.6 per cent, showing a significant improvement of 4 per cent on a Y-o-Y basis. During the year, we were able to mitigate the impact of increased cotton prices and ocean freights, thereby improving our bottom line. Our cost rationalisation efforts and diversified product portfolio were also crucial in achieving these results.”
“Although the global economy is still experiencing a slowdown, and customer sentiment remains subdued, we remain committed to our long-term strategy of achieving profitable growth. Our focus on innovation, high- quality products, and exceptional service enables us to stand out in the marketplace. While it may take some time for normal demand to return, we are confident in our ability to continue delivering value to our customers and achieving our goals,” added Churiwal.
BSL has a proud history as a leader in the textile industry. Its vertically integrated unit seamlessly integrates spinning, weaving, processing, and manufacturing capabilities with the aid of cutting-edge technologies from around the world. The company boasts a diverse range of products including synthetic, worsted, and cotton yarns, as well as synthetic and worsted suiting and a variety of furnishings fabrics. Since its establishment in 1971, BSL has continuously grown and expanded. Today, the company is recognized for its high-quality synthetic blended fabrics under the brand name BSL Suiting and premium worsted fabrics under the brand name Geoffrey Hammonds. The company’s extensive experience in textile manufacturing has earned it the ability to produce over 20 million meters of fabric annually across India and 60 countries around the world. The company is committed to providing the highest quality products, as evidenced by its IS/ISO 9001-2008 certification.